Balboa Wealth Partners Purchases New Holdings in Zions Bancorporation, National Association (NASDAQ:ZION)

Balboa Wealth Partners acquired a new position in shares of Zions Bancorporation, National Association (NASDAQ:ZION) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,850 shares of the bank’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in Zions Bancorporation, National Association by 433.6% during the first quarter. FMR LLC now owns 4,412,983 shares of the bank’s stock worth $132,081,000 after buying an additional 3,586,023 shares in the last quarter. Norges Bank bought a new position in Zions Bancorporation, National Association in the fourth quarter valued at approximately $91,760,000. LSV Asset Management raised its position in Zions Bancorporation, National Association by 16.2% during the fourth quarter. LSV Asset Management now owns 4,719,478 shares of the bank’s stock valued at $232,010,000 after purchasing an additional 656,756 shares in the last quarter. Marshall Wace LLP lifted its stake in Zions Bancorporation, National Association by 74.7% during the fourth quarter. Marshall Wace LLP now owns 1,401,957 shares of the bank’s stock worth $68,920,000 after purchasing an additional 599,605 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Zions Bancorporation, National Association by 25.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,835,813 shares of the bank’s stock valued at $139,408,000 after purchasing an additional 577,744 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on ZION shares. Jefferies Financial Group downgraded Zions Bancorporation, National Association from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $37.00 to $30.00 in a research report on Tuesday, July 11th. Stephens increased their target price on shares of Zions Bancorporation, National Association from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, July 20th. Janney Montgomery Scott lowered shares of Zions Bancorporation, National Association from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a report on Thursday, June 15th. Truist Financial increased their price objective on shares of Zions Bancorporation, National Association from $32.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, DA Davidson boosted their target price on shares of Zions Bancorporation, National Association from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.74.

Zions Bancorporation, National Association Trading Down 1.0 %

NASDAQ:ZION traded down $0.35 on Wednesday, reaching $35.09. 701,512 shares of the stock traded hands, compared to its average volume of 4,505,205. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 7.74 and a beta of 1.14. Zions Bancorporation, National Association has a 1-year low of $18.26 and a 1-year high of $59.75. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.25. The company’s 50 day moving average is $33.34 and its 200-day moving average is $33.05.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Wednesday, July 19th. The bank reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The business had revenue of $1.17 million during the quarter, compared to the consensus estimate of $750.34 million. Zions Bancorporation, National Association had a net margin of 21.43% and a return on equity of 19.24%. Zions Bancorporation, National Association’s quarterly revenue was down 99.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 earnings per share. Equities research analysts anticipate that Zions Bancorporation, National Association will post 4.46 EPS for the current fiscal year.

Zions Bancorporation, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 17th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date was Wednesday, August 16th. Zions Bancorporation, National Association’s dividend payout ratio is 28.87%.

Zions Bancorporation, National Association Profile

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.